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Iran, Russia plan joint bank to bypass sanctions   [Copy link] 中文

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Post time 2014-10-13 01:27:44 |Display all floors
12 October 2014.









Iran and Russia are planning to establish a joint bank in an effort to multiply bilateral trade and bypass sanctions on the Islamic Republic's banking sector, a media report said on Saturday.

Asadollah Asgaroladi, head of the Iran-Russia Joint Chamber of Commerce, said that Tehran and Moscow were studying the possibilities of opening a new chapter in trade relations that could break the domination of Western currencies over bilateral exchanges, Press TV reported.

"Since Russian banks fear the implications of working with Iran due to sanctions, we want to establish the joint Iran-Russia bank with the help of our central banks and private sectors," the report quoted Asgaroladi as saying.

"Such a bank would be able to exchange money between the two sides using rials and roubles and put aside dollars, euros and pounds," he added.

Unilateral sanctions imposed on Iran's banking sector by the US and the European Union over Tehran's nuclear energy programme and the recent Western bans against Russia over Ukraine have prompted the two countries' trade officials to boost economic cooperation.

Iran's President Hassan Rouhani and his Russian counterpart Vladimir Putin have held four meetings on different occasions after the Iranian president took office in 2013.

"We are responsible for our nation's prosperity. Before the sanctions, we had 150 billion euros of deposits in the banks of West and Europe. When they sanctioned us, we transferred the money to other countries exactly where they don't want to be," Asgaroladi said.

Iran's Minister of Economy, Ali Tayyeb-Nia, said the Islamic Republic has already traded with some of its partners through the exchange of national currencies and would welcome the plan to establish the joint bank with Russia.

"I'm glad that our country is less dependent on several currencies and this process will continue in the future," Tayyeb-Nia said.

In September, Iran and Russia agreed to use national currencies in bilateral trade.

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Post time 2014-10-13 02:05:10 |Display all floors
Russia is wasting their time: After West carries out a regime change in Iran (justified or not), any cooperation with Russia will be neutralized, just like it is being done right now in Syria.

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Post time 2014-10-13 02:05:27 |Display all floors
Russia is wasting their time: After West carries out a regime change in Iran (justified or not), any cooperation with Russia will be neutralized, just like it is being done right now in Syria.

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Post time 2014-10-13 14:43:12 |Display all floors
Looks like it RUSSIA-PERSIA-CHINA alliance.

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Post time 2014-10-13 18:58:34 |Display all floors
Ebola$$$ Post time: 2014-10-13 02:05
Russia is wasting their time: After West carries out a regime change in Iran (justified or not), any ...

try and see~
see whether Russia and China will nuke the he-ll out of u or not~

just try~ come~
盡忠報國

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Post time 2014-10-13 19:39:32 |Display all floors
This post was edited by desaZview at 2014-10-13 19:40
Ebola$$$ Post time: 2014-10-13 02:05
Russia is wasting their time: After West carries out a regime change in Iran (justified or not), any ...

I hear Putin is planning to sell a few short range nuke missiles to Syria. Enjoy them luv.

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Post time 2014-10-14 01:17:57 |Display all floors
slimpanda Post time: 2014-10-13 18:58
try and see~
see whether Russia and China will nuke the he-ll out of u or not~

You know quite well that Russia and China will not go to war with West over a Muslim nation: Iran.  Both nations will back down, just like they did with Iraq, Afghanistan, Syria, Egypt, Libya, and so forth.  Neither country would even fight for each other: China would not join Russia if USA attacked Russia, and vice versa.  

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